Vaneck Sigel揭露了將10年債務工具與比特幣曝光合併的BitBonds

擬議中的Bitbonds結合了10年的債務工具，將其價值的90％分配給美國國庫券以及其對比特幣的價值的10％。

The proposed BitBonds combine 10-year debt instruments that distribute 90% of their value to U.S. Treasury bonds alongside 10% of their value to Bitcoin. The bonds would become available for $100 per unit before the money went to support the Bitcoin part of the investment. The structure provides investors with complete Bitcoin gains until the bond generates an annualized yield that reaches 4.5% of its purchase value. The government would share equally any Bitcoin winnings acquired after the 4.5% threshold is exceeded. The investment bond offers a redemption value of $90 from the original $100 principal and partnership gains from the Bitcoin component at maturity time.

擬議中的Bitbonds結合了10年的債務工具，將其價值的90％分配給美國國庫券以及其對比特幣的價值的10％。在資金支撐投資的比特幣部分之前，這些債券的價格為每單位100美元。該結構為投資者提供了完全比特幣的收益，直到債券產生的年度收益率達到其購買價值的4.5％。在超過4.5％的閾值之後，政府將同樣分享獲得的任何比特幣獎金。投資債券從原始的100美元本金中提供了90美元的贖回價值，並在到期時的比特幣組件中獲得了合夥股的收益。

BitBonds Promise Lower Debt Costs and Higher Crypto-Linked Gains

BitBonds承諾較低的債務成本和更高的加密貨幣收益

At the Strategic Bitcoin Reserve Summit, Sigel demonstrated this proposal, which merged governmental and investor interests. Citizens would find BitBonds appealing as a cost-efficient replacement for their existing debt, while investors could defend against monetary erosion through this innovative bond structure.

在戰略比特幣儲備峰會上，西格爾（Sigel）展示了這一提案，該提案與政府和投資者的利益合併。公民會發現，比特斯特人可以作為其現有債務的成本效益替代者，而投資者可以通過這種創新的債券結構來防禦金錢侵蝕。

According to the analysis by VanEck Sigel, investors can achieve enhanced returns beyond regular bond payments when Bitcoin achieves specific compound annual growth rates. When the coupon rate stands at 4%, the minimum required Bitcoin CAGR needs to be zero. The breakeven point for a 3% coupon reaches 8.27%, and a 1% coupon requires a breakeven of 16.60%. The historical compound annual growth rate of Bitcoin between 30% and 50% enables investors to achieve returns up to 282% through different coupon options.

根據Vaneck Sigel的分析，當比特幣達到特定的複合年增長率時，投資者可以在常規債券支付之外獲得增強的回報。當優惠券利率為4％時，最低所需的比特幣CAGR需要為零。 3％優惠券的收支平衡點達到8.27％，1％的優惠券需要16.60％的收支平衡。比特幣在30％至50％之間的歷史複合年增長率使投資者通過不同的優惠券選擇獲得了高達282％的回報。

The authorities could reduce their interest expense by using BitBonds as a bond issuance method. A $100 billion BitBonds issuance with a 1% coupon rate would allow the Treasury to cut down its interest payments, which typically reach 4% for fixed-rate bonds. The government stands to produce yields of up to $40 billion from shared Bitcoin gains based on Bitcoin maintaining a 30% CAGR. Bonding with Bitcoin would let the U.S. present its own unique bond instrument to investors while obtaining exposure to possible Bitcoin market gains.

當局可以將BitBonds用作債券發行方法來減少其利息費用。 1000億美元的票數為1％的票息率將使財政部減少其利息支付，這通常達到固定利率債券的4％。政府根據比特幣維持30％的複合年增長率，從共享的比特幣收益中產生高達400億美元的收益率。與比特幣建立債券將使美國向投資者展示自己獨特的債券工具，同時獲得可能的比特幣市場增長。

VanEck Sigel Pushes Innovative Debt Model at Bitcoin Reserve Summit

Vaneck Sigel在比特幣儲備峰會上推動創新債務模型

Sigel recognized that BitBonds contain specific risks and dangers that need attention. Investors must witness significant Bitcoin value appreciation to achieve a no-loss position with its low coupon rate. The 2035 Bitcoin price needs to surpass $383,000 with a 1% coupon rate to make stocks profitable for investors. The investors would bear total risk exposure for losses, except for earning their allocated share of profits after exceeding the initial yield-to-maturity threshold of 4.5%. Investors might find more attractiveness in holding Treasury bonds and Bitcoin directly instead of investing in this arrangement.

Sigel認識到Bitbonds包含需要注意的特定風險和危險。投資者必須目睹大量的比特幣價值升值，以便以低優惠券利率獲得無損的位置。 2035比特幣價格需要超過$ 383,000，票價為1％，以使投資者有利可圖。投資者將承擔損失的總風險敞口，除了在超過4.5％的初始收益率到成熟度閾值之後賺取了分配的利潤份額。投資者可能會直接持有財政債券和比特幣，而不是投資於此安排時會發現更多吸引力。

The government faces financial uncertainty from its first obligation to take on debt for Bitcoin acquisition because Bitcoin may not perform as predicted. The challenges of BitBonds implementation can be overcome through proper regulatory structures combined with required adjustments to make the instrument effective for federal debt management.

由於比特幣可能無法按照預期的方式執行債務，因此政府首先要承擔債務的義務，因此面臨財務不確定性。可以通過適當的監管結構以及所需的調整來克服BITBONDS實施的挑戰，以使該工具有效地對聯邦債務管理有效。

The proposal from VanEck introduces a new approach to handling government debt by combining it with crypto exposure in a BitBond structure. The potential advantages for both investors and the government must be balanced against the new management needs for risks emerging from this concept. As the financial landscape continues to evolve, we might yet see this innovative instrument integrated into future economic strategies.

Vaneck的提案通過將其與BitBond結構中的加密貨幣相結合，引入了一種新的處理政府債務的方法。投資者和政府的潛在優勢必須與這一概念中興起的新管理需求保持平衡。隨著金融景觀的不斷發展，我們可能仍會看到這種創新工具融入了未來的經濟戰略。